Latest news with #alternativefuel
New York Times
2 days ago
- Business
- New York Times
America's Clean Hydrogen Dreams Are Fading, Again
The promise of an abundant and clean-burning alternative to oil and natural gas has captivated generations of politicians, executives and environmentalists. As far back as 1977, when oil prices were a big concern in the United States, a Cadillac Seville fueled by hydrogen drove in President Jimmy Carter's inaugural parade. More recently, a signature law under President Joseph R. Biden Jr. offered generous tax credits to companies that made hydrogen in ways that release little or no carbon dioxide. That spurred a flood of investment announcements by many businesses. But the hype around the fuel is fading fast — and not for the first time. From Arizona to Oklahoma, companies are pulling the plug on clean hydrogen projects after Congress shortened the window for them to qualify for a Biden-era tax credit by five years. Projects now must be under construction by the end of 2027 to qualify, a hurdle that three-quarters of proposals most likely will not meet, according to Wood Mackenzie, an energy consulting firm. Hydrogen is widely used to make fertilizer and to turn oil into gasoline, diesel and other fuels. It can also store energy, much like a battery, and be used to power cars or trucks, though it has long struggled to take off in those applications. The appeal is clear: Using hydrogen produces water vapor instead of greenhouse gases. But the fuel is expensive, is hard to store and transport, and is made using lots of energy. 'The rationale behind it was that green hydrogen was going to be abundant and cheap,' said Matthieu Giard, head of the Americas for Air Liquide, a French industrial gas company. 'It's not really what we see today.' Today, hydrogen is produced mostly from natural gas in a process that emits carbon dioxide, the leading cause of climate change. It can be made using electricity to split water molecules into hydrogen and oxygen. But many projects that aimed to do that have been canceled or are on the chopping block. Hydrogen's problems are myriad. Electricity demand is rising rapidly in the United States, as are costs. People are using electricity to power everything from cars to heat pumps. And tech companies are using vast amounts of power to train and run artificial intelligence systems. That all means more competition for the energy required to extract hydrogen from water. In addition, it is getting harder and more expensive to install wind turbines and solar panels in the United States, making fewer such hydrogen projects financially viable. 'It's tough times,' said Bernd Heid, a senior partner at McKinsey & Co. who leads the consulting firm's hydrogen work. 'This market will be flattish in the U.S. for quite some time.' Two Australian companies, Woodside Energy and Fortescue, are among those that recently canceled low-emission hydrogen projects in the United States. Woodside cited cost increases and lower-than-expected demand as reasons to scrap a project near Oklahoma City. Fortescue, a mining giant that bet big on hydrogen, pointed to changes in U.S. energy policy. Its $550 million project outside of Phoenix was supposed to open in 2026. 'The lack of certainty and a step back in green ambition has stopped the emerging green energy markets, making it hard for previously feasible projects to proceed,' Agustin Pichot, Fortescue's chief executive of growth and energy, said on a July conference call with financial analysts. Another type of hydrogen project in which companies use natural gas and then store most of the resulting carbon dioxide emissions underground could ultimately fare better in the United States, energy executives and analysts said. Natural gas-based projects qualify for a different tax credit that gives companies more time to start construction. Gas is also plentiful in the United States, and the Trump administration is remaking federal energy policy to encourage its production and use. 'Every geography is going to play with its own strength and the strength of the U.S. clearly is access to fossil fuels, access to carbon sequestration sinks,' said Mr. Giard of Air Liquide. Even the natural gas path remains daunting. As of last year, fewer than 15 percent of low-emission hydrogen projects announced in the United States since 2015 had reached the critical stage where companies decide to spend hundreds of millions or even billions of dollars to move forward, according to McKinsey. Exxon Mobil, the largest U.S. oil company, is among those weighing whether to commit to making hydrogen with natural gas, while burying the carbon dioxide. The company has announced plans to build outside of Houston what would be one of the largest low-emission hydrogen plants in the world. But it has not made a final investment decision. 'We're concerned about the development of a broader market, which is critical to transition from government incentives,' Darren Woods, Exxon's chief executive, told analysts this month. 'If we can't see an eventual path to a market-driven business, we won't move forward with the project.'
Globe and Mail
04-08-2025
- Automotive
- Globe and Mail
PHINIA Completes Strategic Acquisition of SEM
PHINIA Inc. (NYSE: PHIN), a leader in premium fuel systems, electrical systems, and aftermarket solutions, has completed the acquisition of Swedish Electromagnet Invest AB (publ) ('SEM'), a century-old provider of advanced natural gas, hydrogen and other alternative fuel ignition systems, injector stators and linear position sensors for on- and off-highway commercial vehicle and industrial markets, as well as of ignition and fuel injection solutions for the professional handheld equipment market. With over 100 years of industrial heritage, SEM brings deep expertise in advanced ignition technologies for both on- and off-road commercial and industrial engines. This acquisition supports PHINIA's strategy to invest in alternative fuel technologies that offer enhanced sustainability and unlock new opportunities in key markets. Brady Ericson, President and Chief Executive Officer of PHINIA, commented 'We're genuinely excited about what lies ahead. This acquisition opens new possibilities through the strategic expansion of our portfolio. By combining PHINIA's expertise in engine management systems with SEM's deep knowledge of advanced ignition technologies, we expect to create a powerful platform for innovation and efficiency. Together, we'll unlock new opportunities in the commercial vehicle and industrial markets. We see tremendous potential to scale our combined offerings across a global customer base, integrate our electronics and systems capabilities, and deliver even greater value for our customers and shareholders.' About PHINIA PHINIA is an independent, market-leading, premium solutions and components provider, with over 100 years of manufacturing expertise and industry relationships and a strong brand portfolio that includes DELPHI ®, DELCO REMY ® and HARTRIDGE TM. With over 12,500 employees across 43 locations in 20 countries, PHINIA is headquartered in Auburn Hills, Michigan, USA. Across commercial vehicles and industrial applications (medium-duty and heavy-duty trucks, buses and other off-highway construction, marine, agricultural and aerospace and defense), light commercial vehicles (vans and trucks) and light passenger vehicles (passenger cars, mini-vans, cross-overs and sport-utility vehicles), we develop fuel systems, electrical systems, and aftermarket solutions designed to keep combustion engines operating at peak performance, while at the same time investing in advanced technologies to unlock the potential of alternative fuels. By providing what the market needs today to become more efficient and sustainable, while also developing innovative products and solutions to contribute to lower carbon mobility, we are the partner of choice for a diverse array of customers – powering our shared journey toward a cleaner tomorrow. © 2025 PHINIA Inc. All Rights Reserved. (DELCO REMY is a registered trademark of General Motors LLC, licensed to PHINIA Technologies Inc.) Forward-Looking Statements: This press release contains forward-looking statements within the meaning of U.S. federal securities laws. Forward-looking statements are statements other than historical fact that provide current expectations or forecasts of future events based on certain assumptions and are not guarantees of future performance. Forward-looking statements use words such as 'anticipate,' 'believe,' 'continue,' 'could,' 'designed,' 'effect,' 'estimate,' 'evaluate,' 'expect,' 'forecast,' 'goal,' 'initiative,' 'intend,' 'likely,' 'may,' 'outlook,' 'plan,' 'potential,' 'predict,' 'project,' 'pursue,' 'seek,' 'should,' 'target,' 'when,' 'will,' 'would,' and other words of similar meaning. Forward-looking statements are subject to risks, uncertainties, and factors relating to our business and operations, all of which are difficult to predict and which could cause our actual results to differ materially from the expectations expressed in or implied by such forward-looking statements. Risks, uncertainties, and factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to: adverse changes in general business and economic conditions, including recessions, adverse market conditions or downturns impacting the vehicle and industrial equipment industries; our ability to deliver new products, services and technologies in response to changing consumer preferences, increased regulation of greenhouse gas emissions, and acceleration of the market for electric vehicles; competitive industry conditions; failure to identify, consummate, effectively integrate or realize the expected benefits from acquisitions or partnerships; pricing pressures from original equipment manufacturers (OEMs); inflation rates and volatility in the costs of commodities used in the production of our products; changes in U.S. and foreign administrative policy, including tariffs, changes to existing trade agreements and import or export licensing requirements, and any resulting changes in international trade relations; our ability to protect our intellectual property; failure of or disruption in our information technology infrastructure, including a disruption related to cybersecurity; our ability to identify, attract, retain and develop a qualified global workforce; difficulties launching new vehicle programs; failure to achieve the anticipated savings and benefits from restructuring and product portfolio optimization actions; extraordinary events, including natural disasters or extreme weather events, fires or similar catastrophic events, political disruptions, terrorist attacks, pandemics or other public health crises, and acts of war; risks related to our international operations; the impact of economic, political, social and market conditions on our business in China; our reliance on a limited number of OEM customers; supply chain disruptions, including due to U.S. and foreign government action; work stoppages, production shutdowns and similar events or conditions; governmental investigations and related proceedings regarding vehicle emissions standards, including the ongoing investigation into diesel defeat devices; current and future environmental, health and safety, human rights and other laws and regulations; the impacts of climate change, regulations related to climate change and various stakeholders' emphasis on climate change and other related matters; compliance with and changes in other laws and regulations; liabilities related to product warranties, litigation and other claims; tax audits and changes in tax laws or tax rates taken by taxing authorities; impairment charges on goodwill and indefinite-lived intangible assets; the impact of changes in interest rates and asset returns on our pension funding obligations; the impact of restrictive covenants and other requirements on our financial and operating flexibility pursuant to the agreements governing our indebtedness; risks relating to the spin-off from our former parent, including our ability to achieve some or all of the benefits that we expect to achieve from the spin-off, a determination that the spin-off does not qualify as tax-free for U.S. federal income tax purposes, and our or our former parent's failure to perform under, or additional disputes that may arise between the parties relating to, various transaction agreements executed in connection with the spin-off; and other risks and uncertainties described in our reports filed from time to time with the Securities and Exchange Commission. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Yahoo
01-07-2025
- Business
- Yahoo
Methanol Market worth $55.80 billion by 2030, at a CAGR of 4.1%, says MarketsandMarkets™
Delray Beach, FL, July 01, 2025 (GLOBE NEWSWIRE) -- The Global Methanol Market is projected to grow from USD 45.56 billion in 2025 to USD 55.80 billion by 2030, at a CAGR of 4.1% during the forecast period, as per the recent study by MarketsandMarkets™. The increasing requirement of methanol-to-olefins (MTO) and methanol-to-propylene (MTP) processes plays an essential role in the global methanol industry. With these technologies, methanol can become a key feedstock for producing noble petrochemicals like ethylene and propylene, which are used extensively in plastics, packaging, and textiles. China, in particular, has invested heavily in MTO/MTP plants to wean off reliance on traditional naphtha production, securing a stable demand for methanol. The growing acceptance of methanol as an alternative fuel has also supported market growth. Methanol's cleaner combustion properties make it a favorable candidate for mixing with gasoline, marine, and heavy-duty transport fuels, thus allowing industries to comply with increasingly tighter emissions regulations. More and more countries are now looking into methanol-based fuel alternatives to help them transition to low-carbon energy infrastructure. All these factors play an important role in the global demand for methanol. Download PDF Brochure: Browse in-depth TOC on 'Methanol Market' 390 - Market Data Tables 52 – Figures 400 - Pages List of Key Players in Methanol Market: Methanex Corporation (Canada) Valenz (Switzerland) SABIC (Saudi Arabia) Yankuang Energy Group Company Limited (China) Zagros Petrochemical Company (Iran) Drivers, Opportunities and Challenges in Methanol Market: Drivers: Growing demand from automotive and construction industries Restraint: Use of fuel-grade ethanol Opportunity: Use of methanol as an alternative fuel in marine and manufacturing industries Challenge: Capital-intensive requirements for using methanol Get Sample Pages: Key Findings of the Study: Coal is expected to grow at the highest rate in the methanol market, by feedstock, from 2025 to 2030 By derivative, the MTO/MTP segment accounted for the fastest-growing share of the methanol market from 2025 to 2030 By end-use industry, the solvents segment will register the highest CAGR in the methanol market from 2025 to 2030 Asia Pacific is the largest region in the methanol market Based on region, the APAC is the largest segment of the global methanol market because of its rapidly developing industrial sector and substantial requirements from end users such as construction, vehicles, and electronic products. China leads all global methanol consumption because the nation employs large quantities of methanol as both an MTO plant raw material and a fuel alternative. Due to the region's extensive natural gas and coal resources, manufacturers benefit from economical methanol production facilities. The demand for methanol is also rising in India and Southeast Asian nations because these areas are experiencing rapid urbanization and infrastructure expansion. The region's growth is supported by Asian Pacific manufacturing companies creating new plants for improved regional fuel distribution. Asia Pacific's global methanol market leadership stems from its substantial economic expansion, developing industrial sectors, and governmental energy policies supporting methanol usage. Based on feedstock, coal is expected to grow at the highest CAGR due to its abundant availability and low cost, particularly in countries like China. Coal-to-methanol (CTM) technology provides a secure alternative to natural gas-dependent production, particularly for countries with scarce natural gas reserves or high costs. Substantial investments in coal-based methanol plants for chemical applications have helped drive the market. Moreover, government efforts in coal-producing nations to use local resources for chemical production are driving coal-based methanol output. The versatility of coal as a feedstock in providing energy security also sustains its increasing use. Get Customization on this Report: Based on derivatives, the MTO/MTP (methanol-to-olefins/methanol-to-propylene) segment will register the highest CAGR in terms of value. The consumption of propylene and ethylene is rising, driven by industries such as construction, automotive, and packaging. Methanol-to-Olefins (MTO) and Methanol-to-Propylene (MTP) technologies offer opportunities for methanol use, particularly in countries with limited oil resources. Nations like China, India, the US, Russia, and Germany are rapidly expanding their MTO and MTP capacities to achieve petrochemical self-sufficiency, creating strong demand for methanol. The production of olefins from methanol is also becoming popular due to flexible sourcing and cost-effectiveness in areas rich in natural gas. As a result, the MTO and MTP sectors are poised for substantial annual growth, making them crucial to the methanol market value chain. Based on end-use industry, solvents will likely have the highest CAGR during the forecast period. Methanol is widely used as a solvent across various industries due to its significant demand. It is essential in producing chemicals like formaldehyde & acetic acid and paints, coatings, adhesives, and inks. Rapid industrialization and infrastructure development in emerging economies drive the demand for these products. Moreover, the increasing use of methanol-based solvents in medicine, personal care, and cleaning products contributes to its growth. Methanol is cost-effective, highly volatile, and an excellent solvent, making it a preferred choice. Its lower toxicity than traditional solvents also aligns with evolving environmental regulations, ensuring its continued versatility and market growth. The Asia Pacific region is a dynamic center of opportunity for the global methanol market, fueled by industrialization, growing energy demand, and a developing trend toward cleaner fuels. Companies can capitalize on these trends by investing in local production plants, forming strategic partnerships, and innovating green methanol technologies. For example, China's growing use of methanol-blended fuels in the transportation market reflects the growing demand for alternative energy sources. Government initiatives like India's "Methanol Economy" program, which encourages methanol as a clean and affordable fuel, also offer fertile ground for growth. Proactively adapting to regional regulatory environments and aligning with growing demand for sustainable energy solutions will allow companies to establish long-term growth and competitive positioning in this strategic market. Browse Adjacent Markets Bulk Chemicals and Inorganics Market Research Reports & Consulting Related Reports: Open Gear Lubricants Market Hindered Amine Light Stabilizers (HALS) Market Concrete Sealers Market North America Copper Tubes Market Methanol Market CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe. Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem. The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts. To find out more, visit or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Rohan Salgarkar MarketsandMarkets™ INC. 1615 South Congress Ave. Suite 103, Delray Beach, FL 33445, USA: +1-888-600-6441 Email: sales@ Visit Our Website: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
08-05-2025
- Business
- Washington Post
Power Solutions: Q1 Earnings Snapshot
WOOD DALE, Ill. — WOOD DALE, Ill. — Power Solutions International Inc. (PSIX) on Thursday reported profit of $19.1 million in its first quarter. The Wood Dale, Illinois-based company said it had profit of 83 cents per share. The maker of alternative-fuel power systems posted revenue of $135.4 million in the period.
